A $235 million expansion of Australia's largest biotech facility in Melbourne is planned and this is expected to create hundreds of jobs. CSL biopharmaceutical research complex in Broadmeadows, in the north of Melbourne will be receiving this financial aid from both the State as well as Federal government over a five year investment plan. This will create an estimated 320 temporary construction jobs and later 333 new highly-skilled medical research openings by 2018.
At present CSL focuses on vaccine development but with the fresh funds more avenues of research like in cancer, blood related diseases, infections and inflammation as well as drug development and clinical trials, are expected to open up. CSL group has branches in 27 countries globally. CSL chief executive Brian McNamee feels that many life saving therapies can now be developed here. In a statement he said, “It will enable us to do important clinical development on a number of large projects that we're working on in the fields of cancer, hematology, inflammation, and these are long term investments.”
Premier John Brumby after announcing the release of funds said, “Victoria has earned itself a reputation as a biotech hub of the Asia-Pacific and we are well on the way to becoming one of the world's top five biotech destinations…CSL's expansion will be important in driving our biotech excellence and is a vote of confidence in our state's investment attraction capabilities.”